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Australasia News

Pleasing Orion bankable points to fast project payback 

By: Martin Creamer     Updated 3 hours ago Zinc and copper exploration and development company Orion Minerals pleasantly surprised the market on Monday when it announced a bankable feasibility study (BFS) that paves the way for financing, concentrate offtake and mine construction of the Prieska project in the Northern Cape. The BFS... 

ONGC to outsource discovered small oil, gas fields while retaining ownership

By: Ajoy K Das     24th June 2019 In a bid to circumvent government plans to take away its discovered small fields (DSFs), national oil and natural gas exploration and production (E&P) major ONGC has decided to auction such assets under production enhancement contracts, while retaining ownership with itself. Company sources said... 

AVZ increases Manono stake

By: Esmarie Iannucci     24th June 2019 ASX-listed AVZ Minerals has struck a $5.5-million deal to acquire an additional 5% interest in the Manono lithium and tin project, in the Democratic Republic of Congo (DRC). AVZ on Monday announced that it would acquire an additional 5% interest in Manono from joint venture partner Dathomir... 

Northern Minerals completes debt agreement

By: Esmarie Iannucci     24th June 2019 Rare earths miner Northern Minerals has completed a A$7.5-million convertible debt agreement, with the funds earmarked to progress enhancement initiatives at the Browns Range project, n Western Australia. The convertible debt formed part of a greater A$15-million placement and convertible debt... 

Barminco wins A$800m Botswana contract

By: Esmarie Iannucci     24th June 2019 Mining services provider Ausdrill’s subsidiary Barminco has been awarded an A$800-million underground mining services contract at the Zone 5 mine, in Botswana. The five-year contract will include mine development, the establishment of underground mine infrastructure, diamond drilling and mine... 

Salt Lake starts commercial-scale SoP works

By: Esmarie Iannucci     24th June 2019 ASX-listed Salt Lake Potash has completed the construction of a commercial-scale sulphate of potash (SOP) brine evaporation pond at its Lake Way operation, in Western Australia, and has started the evaporation process. The evaporation ponds have been designed to receive the 1.2 GL of high-grade... 

Morrisson vows to remove investment hurdles

By: Esmarie Iannucci     24th June 2019 The resources sector has welcomed commitments by Prime Minister Scott Morrison to remove regulatory and bureaucratic barriers to business investment, with the Minerals Council of Australia (MCA) saying it could unlock up to A$170-billion of potential resource investment across Australia.... 

Morrisson vows to remove investment hurdles
Photo by Bloomberg
Australian MP Scott Morrison

Paladin sells idled Malawi mine to Hylea

By: Esmarie Iannucci     24th June 2019 Uranium miner Paladin Energy has struck a deal with ASX-listed Hylea Metals to divest of its shareholding in the Kayelekera mine, in Malawi, for A$5-million. Paladin owns 65% of the Kayelekera project, joint venture partner Chichewa holds a 20% interest and the Malawi government a 15% stake. 

Ribbon cut at Iluka's Cataby

By: Esmarie Iannucci     24th June 2019 Western Australian Premier Mark McGowan has official opened the A$270-million Cataby mineral sands mine, owned by ASX-listed Iluka Resources. Cataby is expected to average a a production of 200 000 t/y of synthetic rutile from 370 000 t/y of ilmenite, 50 000 t/y of zircon and 30 000 t/y of... 

EPA gives thumbs up to new A$1.27bn Fortescue mine

By: Esmarie Iannucci     24th June 2019 The Western Australian Environmental Protection Authority (EPA) has recommended environmental approval for iron-ore major Fortescue’s Eliwana iron-ore mine, in the Pilbara. The Fortescue board in May last year approved the $1.27-billion Eliwana mine and rail project, which will entail a new... 

Gold gains to near highest since 2013 as bulls ‘back in control’

By: Bloomberg     24th June 2019 Gold’s bullish momentum has rolled into a new week. Prices extended their advance above $1 400/oz, near the highest level since September 2013, after the Federal Reserve and other central banks turned more dovish on monetary policy.  

Gold gains to near highest since 2013 as bulls ‘back in control’

Orion education initiative ‘well received’, says COO

By: Simone Liedtke     21st June 2019 JSE- and ASX-listed Orion Minerals’ introductory mining familiarisation short courses within the Siyathemba municipality, in the Northern Cape, have raised public awareness of the mining industry and the opportunities it offers, the company reports. The five-day short courses have been offered... 

Silver Mines’ enviro study confirms minimal impact, to be submitted soon

By: Marleny Arnoldi     21st June 2019 ASX-listed Silver Mines confirmed on Friday that the environmental impact statement (EIS) for its Bowdens silver project, in New South Wales, was in the final stages before being submitted for development consent to the New South Wales Department of Planning and Environment. The EIS affirms... 

Venus Metals, Rox to collaborate on four projects

By: Marleny Arnoldi     21st June 2019 ASX-listed Venus Metals has successfully formed four joint ventures in Western Australia with ASX-listed Rox Resources, with Venus receiving $2.5-million and 25-million shares from Rox. The Youanmi Gold Mine Joint Venture (OYG JV) is 50%-owned by each company, with Rox having the obligation to... 

Middle Island extends Alto takeover offer period to August

By: Marleny Arnoldi     21st June 2019 ASX-listed Middle Island Resources (MDI) has extended the offer period for its off-market takeover offer to acquire 100% of fellow-listed Alto Metals to August 2. MDI first announced its intention to acquire all the Alto shares that it did not own on April 10.  

Toyota Tsusho to wait on EV market before upping lithium investment

By: Reuters     21st June 2019 Toyota Tsusho, one of the world's biggest lithium producers, said on Friday it would take at least two more years to properly gauge the global electric vehicle (EV) market's direction before deciding whether to further expand supply. Over the next two to three years, major automakers would be... 

Much-delayed Wallarah 2 coal project to proceed

By: Simone Liedtke     21st June 2019 It has been a week of big news for coal projects in Australia with another long-gestating mine, Wallarah 2 in New South Wales, gaining a mining lease only days after construction of the much-delayed and -debated Carmichael mine, in Queensland, got under way. The New South Wales Minerals Council... 

Much-delayed Wallarah 2 coal project to proceed

Azure’s Mexico project receives all regulatory approvals

By: Simone Liedtke     21st June 2019 ASX-listed Azure Minerals has received all regulatory approvals necessary for its planned mining operation at Oposura, Mexico, including openpit and underground mining permits, environmental clearances, explosives permits and surface land-use agreements. The fully-funded zinc/lead/silver project... 

Champion’s Bloom Lake feasibility study doubles yearly production

By: Marleny Arnoldi     21st June 2019 TSX- and ASX-listed Champion Iron on Thursday announced positive results from its Phase 2 feasibility study for the Bloom Lake mining complex, in Quebec. The study envisioned further exploiting Bloom Lake, which would increase overall capacity from 7.4-million tonnes a year to 15-million tonnes... 

Sandfire replaces ore reserves at DeGrussa

By: Creamer Media Reporter      21st June 2019 An updated ore reserve for the DeGrussa mine, in Western Australia, has extended the copper/gold operation’s mine life to mid-2022, ASX-listed Sandfire Resources reported on Friday. The company’s latest reserve and mineral resource update for DeGrussa includes the Conductor 1, Conductor 4 and... 

Lynas stockpiles rare earths for 'strategic' customers

By: Reuters     21st June 2019 Australia's Lynas said it was stockpiling production of a major rare earth element, with prices jumping in recent weeks as supply concerns mount amid trade tensions between China and the United States. The miner said its decision to stockpile neodymium praseodymium (NdPr), used in industrial... 

Lynas stockpiles rare earths for 'strategic' customers

Court dismisses Ecuador mining referendum petition

By: Mariaan Webb     20th June 2019 The share prices of SolGold and Cornerstone Capital Resources rose sharply in Canada on Thursday afternoon, following an announcement that the Ecuador mining referendum petition had been dismissed. TSX-V-listed Cornerstone, which is a partner in the significant Cascabel copper/gold project with... 

Court dismisses Ecuador mining referendum petition

Australia lithium miner Altura says former top investor Shaanxi J&R sells entire stake

By: Reuters     20th June 2019 Australia's Altura Mining said on Thursday its former biggest investor and one-time suitor, China's Shaanxi J&R Optimum Energy, has sold its entire remaining 11.8% stake in the lithium miner. At Altura's latest closing price, the stake would have been worth A$24.1-million ($16.60-million). It... 

Higher production expected from Aeris

By: Esmarie Iannucci     20th June 2019 ASX-listed Aeris Resources has tipped a 4% increase in full year production expectations on the back of strong production performances at its Tritton and Murrawombie underground mines, along with higher copper grades in New South Wales. The miner on Thursday advised that its copper production... 

Commissioning starts at Juardi

By: Esmarie Iannucci     20th June 2019 Commissioning has started at the Juardi gold project, in Western Australia, with full production targeted for the fourth quarter of this year. ASX-listed Beacon Minerals on Thursday said that the A$21.4-million project was expected to recover some 126 000 oz of gold over a five-year mine life,... 

BHP and Mitsubishi to pursue emission reductions

By: Esmarie Iannucci     20th June 2019 Mining major BHP and Japan’s Mitsubishi Development have inked a memorandum of understanding (MoU) to jointly pursue emissions reductions. BHP CEO Andrew Mackenzie on Thursday said that the MoU marked the start of an important collaboration with one of the company’s essential long-term industry... 

MACA supports Blackham expansion plans

By: Esmarie Iannucci     20th June 2019 Integrated service contractor MACA will provide gold miner Blackham Resources with a A$12-million working capital facility to progress its transition to the Stage 1 expansion sulphide development at its Western Australian operations. Under the agreement, MACA will provide Blackham with working... 

Syrah to raise A$111m, signs new offtake

By: Esmarie Iannucci     20th June 2019 Graphite miner Syrah Resources will raise some A$111.6-million though a convertible note and underwritten entitlement offer to ramp-up production at its Balama project, in Mozambique. Syrah has struck an agreement with its largest shareholder AustralianSuper to issue a five-year unsecured... 

St George raises A$4m under JMEI

By: Esmarie Iannucci     20th June 2019 Junior nickel developer St George Mining will raise A$4-million through a share placement, making use of the Junior Mineral Exploration Incentive (JMEI), which will expire at the end of the month. The JMEI is a tax credit arrangement, which allows mineral exploration companies that have no... 

Construction starts at Carmichael

By: Esmarie Iannucci     20th June 2019 Construction of the much-maligned Carmichael coal project, in Queensland, has started. Indian major Adani on Thursday said that some 60 workers were currently on site for surveying and clearing purposes to allow access onto the mine site, while also working on geotechnical and water management... 

Construction starts at Carmichael

Cyanide-free leaching technology launches

By: Esmarie Iannucci     20th June 2019 The Commonwealth Scientific and Industrial Research Organisation (CSIRO) has licensed Perth-based Clean Mining to sell and distribute a new cyanide-free gold processing technology. The technology was developed over more than a decade by the CSIRO and replaces cyanide with a safer, less hazardous... 

China iron-ore soars as Rio Tinto cuts shipments forecast

By: Reuters     20th June 2019 China's iron-ore surged to a record on Thursday after Rio Tinto lowered its Pilbara shipment guidance, suggesting that supply could remain tight even as Vale is set to resume full operations at its Brucutu mine. Mining giant Rio Tinto on Thursday lowered its guidance on volumes of iron-ore it... 

Resolute Mining determined to grow as adds London listing

By: Reuters     20th June 2019 Australian-listed gold miner Resolute Mining lists on the London Stock Exchange on Thursday to broaden its investor base and pursue its ambition to be a high-tech, pan-African gold producer, partly through acquisitions. New listings have been scant in London, where uncertainty over Britain's... 

Gold spikes to more than 5-year high as Fed signals ready to cut 

By: Bloomberg     20th June 2019 Gold jumped to the highest in more than five years after the US Federal Reserve indicated a readiness to cut interest rates and the dollar tumbled. Gold had a lackluster start to the year but gained momentum this month as investors sought havens amid slowing global growth due to the fallout from... 

Gold spikes to more than 5-year high as Fed signals ready to cut

Rio Tinto cuts 2019 iron-ore guidance

By: Simone Liedtke     19th June 2019 Mining major Rio Tinto on Wednesday said that it was experiencing operational challenges at its iron-ore mines, particularly in the Greater Brockman hub in the Pilbara, resulting in another revision of its guidance for the year. The miner lowered its Pilbara shipment guidance to between... 

Nordgold to acquire Guyana gold project

By: Simone Liedtke     19th June 2019 Diversified gold miner Nordgold has entered into an option agreement with ASX-listed Alicanto Minerals for the exclusive right to acquire a 100% interest in the Arakaka gold project, in Guyana. Under the terms of the agreement, Nordgold will have an option to acquire a 100% interest in the... 

Jervois gains entry into Uganda with M2 Cobalt buyout

By: Tasneem Bulbulia     19th June 2019 ASX-listed Jervois Mining has completed a plan of arrangement to acquire TSX-listed M2 Cobalt. The acquisition provides Jervois entry into Uganda to complement its East African ambitions, particularly regarding opportunities around the historic Kilembe mine and the Kasese cobalt refinery. 

Malaysia postpones meeting with Australia on Lynas waste

By: Reuters     19th June 2019 Malaysia's energy and environment minister has delayed a visit to Australia to discuss rare earth miner Lynas Corp's storage of radioactive waste in the Southeast Asian nation, according to a ministry spokeswoman. The trip, initially scheduled for this week, has been postponed "pending further... 

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